TORONTO, ONTARIO--(Marketwired - March 12, 2015) - Eagle Graphite Incorporated (TSX VENTURE:EGA)(FRANKFURT:NJGN) ("Eagle Graphite" or the "Company") is pleased to announce that, further to its press release of December 19, 2014, the Company has completed the private placement financing (the "Private Placement") with TLO Capital Corp. ("TLO").

Pursuant to the terms of the Private Placement, TLO purchased 1,500,000 units of Eagle Graphite (the "Units") at a price of $0.10 per Unit for aggregate consideration of $150,000. Each Unit consists of one common share of the Company (each a "Share") and one half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant entitles the holder to purchase one common share of the Company at a price of $0.15 at any time up to March 12, 2020.

The Private Placement is subject to receipt of final approval of the TSX Venture Exchange ("TSXV"). The Shares and Warrants comprising the Units are subject to a statutory hold period until July 13, 2015.

The proceeds raised under the Private Placement will be used for general working capital purposes.

About Eagle Graphite

Eagle Graphite Incorporated is an Ontario company that specializes in natural flake graphite quarrying. The Company owns one of only two operational natural flake graphite quarries in North America, located 35 kilometres west of the city of Nelson in British Columbia, Canada, and 70 kilometres north of the state of Washington, USA, known as the Black Crystal graphite quarry. The Company's shares are listed on the TSX Venture Exchange (the "TSXV") under the symbol "EGA" and on the Frankfurt Stock Exchange under the symbol "NJGN".

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.